Tuesday, July 26, 2011

Monday 07/25: divergence

While the Nasdaq is clearly leading the market higher, most indices opened sharply lower, rallied thru the day but gave back most of the gains in the afternoon. The volume over the last 2 days is rather low and it's still possible that we are consolidating here before the next move higher.

Debt ceiling talks make for such uncertainty in the markets, that taking new positions doesn't seem like a wise thing to do. Those of you who bought the lows of June, could risk to hold on to his/her positions thru that feared 2nd of August-deadline. But keep those stops tight...

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